{"id":9969,"date":"2024-03-13T07:23:05","date_gmt":"2024-03-13T01:53:05","guid":{"rendered":"https:\/\/bigbreakingwire.in\/reddit-unveils-ipo-plans-on-nyse-discloses-804-million-revenue-in-2023-amid-90-8-million-net-loss\/"},"modified":"2024-03-21T20:40:58","modified_gmt":"2024-03-21T15:10:58","slug":"reddit-unveils-ipo-plans-on-nyse-discloses-804-million-revenue-in-2023-amid-90-8-million-net-loss","status":"publish","type":"post","link":"https:\/\/bigbreakingwire.in\/reddit-unveils-ipo-plans-on-nyse-discloses-804-million-revenue-in-2023-amid-90-8-million-net-loss\/","title":{"rendered":"Reddit Unveils IPO Plans on NYSE, Discloses $804 Million Revenue in 2023 Amid $90.8 Million Net Loss"},"content":{"rendered":"
<\/div>\n

Reddit has officially submitted its IPO filing. According to Bloomberg, numerous WallStreetBets forum members are engaging in discussions about shorting the company.<\/p>\n\n\n\n

Reddit $RDDT is set to go public on March 21, 2024, with shares priced in the range of $31 to $34, targeting a valuation reaching up to $6.4 billion.<\/p>\n\n\n\n

Reddit has officially submitted its IPO filing. According to Bloomberg, numerous WallStreetBets forum members are engaging in discussions about shorting the company.

In a move to provide flexibility for its employees, Reddit plans to allow certain staff members to sell stock in the IPO, according to sources disclosed by the Wall Street Journal.

The social media platform Reddit is actively preparing for its initial public offering (IPO) this month, according to information obtained from sources by the Wall Street Journal.<\/p>\n\n\n\n

\u2022 IPO Announcement:<\/strong> Reddit has officially it’s IPO on the New York Stock Exchange. They made $804 million in 2023 but had a loss of $90.8 million.

\u2022 Google AI Deal:<\/strong> Reddit made a secret deal with Google worth $60 million. This deal lets Google use Reddit’s content to train its artificial intelligence.

\u2022 Public Offering Details:<\/strong> Reddit wants regular users (non-employees) to have a chance to buy shares in their IPO. This is called the directed share program.

\u2022 User Stats:<\/strong> Reddit had about 73.1 million people using it every day and 267.5 million every week at the end of 2023. There were over 100,000 active groups on the platform, and they had a total of 1 billion posts.

\u2022 Financials:<\/strong> Reddit’s revenue went up by 21%, and even though they had a loss, it got smaller at $90.8 million in 2023.

\u2022 Google AI Deal Revealed:<\/strong> The IPO documents showed Reddit is working with Google, and they are getting paid $60 million each year.

\u2022 Company Valuation:<\/strong> Reported valuation of at least $5 billion as per Reddit’s IPO prospectus. In 2021, Reddit was worth $10 billion.

\u2022 Challenges:<\/strong> Reddit is not as successful as other social media like Facebook and Twitter. Some people are worried about Reddit’s AI deal with Google, thinking it might misuse user data.

\u2022 Community Commitment:<\/strong> Reddit wants its users to be a part of its IPO.<\/p>\n\n\n\n

Sam Altman stands to become one of Reddit’s major beneficiaries in its upcoming IPO<\/strong>, holding the third-largest stake at 8.7%, potentially worth $435 million based on a reported valuation of at least $5 billion. Reddit’s IPO prospectus didn’t specify the share price, leaving uncertainty about whether Altman plans to sell any of his 789,456 Class A shares and 11.4 million super voting Class B shares in the offering.

\u2022 Conclusion: <\/strong>Reddit going public is a big deal. While it’s exciting, the secret AI deal and uncertainties about how investors will react are things to watch out for.<\/p>\n","protected":false},"excerpt":{"rendered":"

Reddit has officially submitted its IPO filing. According to Bloomberg, numerous WallStreetBets forum members are engaging in discussions about shorting the company. Reddit $RDDT is…<\/p>\n","protected":false},"author":1,"featured_media":9968,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[65,31,29,1,39],"tags":[1334,1340,1341,850,1337,1335,418,1343,1332,1339,1333,1342,1336,1338],"class_list":["post-9969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bigbreakingnow","category-business","category-finance","category-tech","category-world","tag-aideal","tag-challenges","tag-communityinvolvement","tag-financials","tag-googlepartnership","tag-investorappeal","tag-ipo","tag-ipowatch","tag-redditnews","tag-socialmedia","tag-techbusiness","tag-techindustry","tag-userstats","tag-valuation","entry","rows"],"jetpack_publicize_connections":[],"modified_by":null,"jetpack_featured_media_url":"https:\/\/bigbreakingwire.in\/wp-content\/uploads\/2024\/02\/everything-you-need-to-know-reddit-ipo.jpg","jetpack_shortlink":"https:\/\/wp.me\/pfgCxS-2AN","jetpack_sharing_enabled":true,"jetpack_likes_enabled":false,"_links":{"self":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/posts\/9969","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/comments?post=9969"}],"version-history":[{"count":0,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/posts\/9969\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/media\/9968"}],"wp:attachment":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/media?parent=9969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/categories?post=9969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/tags?post=9969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}